Thursday, June 24, 2010

Discover Financial Services(DFS: 14.39 +0.38 +2.71%) shares are up 2.4% to $14.35 after it said Thursday it earned $184.9 million, or 33 cents per share, in the quarter ended May 31. This compares with a loss of $148.9 million, or 31 cents per share, a year ago. Earnings were reduced by 13 cents per share because it redeemed $1.2 billion of preferred stock.

Apple (AAPL: 269.6475 -1.3225 -0.49%) is expected to sell a record 1 million iPhone 4 today when the new version debuts. The iPhone will be on sale first in the U.S., U.K., France, Germany and Japan. Apple shares are up slightly in early trading.

Toymaker Hasbro(HAS: 42.94 +1.82 +4.43%) shares are up nearly 4% in early Thursday trading on takeover talks. Providence Equity Partners is in discussions to buy the company via a leveraged buyout. If this buyout goes through, it would be the largest M&A deal this year. *Update: Hasbro has now clarified that it is not in buyout talks with the private equity firm.

BP(BP: 29.18 -0.49 -1.65%) said Thursday it has reinstalled containment cap on the Deepwater Horizon’s blown-out well late Wednesday. The collecting oil and gas was resumed at 1900 Central Daylight Time.

Cisco Systems(CSCO: 22.7299 -0.1301 -0.57%) was initiated new Buy at Kaufman Bros, with a $30 price target as the company is positioned well to benefit from industry trends. Its stock is down slightly in early trading.

Nike shares are down 3.5%. Its estimates are cut at UBS (UBS: 13.87 -0.18 -1.28%) through 2012, with pressure on margins rising. It has a Neutral rating and with a $77 price target.